Russian Gold reserve reaches 1,745 metric tons in August

Moscow-Russia (Sept 26)  The Gold reserves by the Russian Central Bank have reached 1,745 metric tons which includes an additional 15.5 metric tons of gold added during the month of August.

 Russian Central Bank has added about 131 tons of gold to its reserves dueing January to August. Russia has led the world over the past two years in adding gold to her central bank reserves, ahead of the People’s Bank of China, the central bank that has added the second largest of amount of gold.

 During the period of 2015 a record of 208 tons of gold were added to the reserves by the Central Bank of Russia. During 2016 about 199 tons of Gold was added to the reserve by the country. In addition to increasing its gold hoard, Russia’s overall foreign reserves have grown from $371 billion in January 2016 to $424 billion as at August 31, 2017.

 Russia is back on track in the gold purchase this year, by adding more than about 200 tons of Gold.  Through August 2017, the Russian Central Bank has added 4.2 million ounces of gold to reserves compared to 3.6 million ounces of gold added through the same time periods of 2015 and 2016.

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